Chemtrade Logistics Income Fund Announces Intention to Commence Substantial Issuer Bid for All of Its 8.50% Convertible Debentures Due September 30, 2025

TORONTO, June 20, 2024 (GLOBE NEWSWIRE) -- Chemtrade Logistics Income Fund (TSX: CHE.UN) (“Chemtrade” or the “Fund”) today announced its intention to commence a substantial issuer bid (the “Offer”) pursuant to which the Fund will offer to purchase for cancellation up to all of its issued and outstanding 8.50% Convertible Unsecured Subordinated Debentures due September 30, 2025 (the “Debentures”) (CUSIP No. 16387PAK9). As of June 19, 2024, $85,507,000 principal amount of Debentures were issued and outstanding. The purchase price under the Offer is $1,300 in cash per $1,000 principal amount of Debentures (the “Purchase Price”). In addition, holders of Debentures (each, a “Debentureholder”) who tender and do not withdraw their Debentures under the Offer will receive a cash payment in respect of all accrued and unpaid interest on such Debentures up to, but excluding, the date they are taken up by the Fund pursuant to the Offer. The Offer is expected to expire at 5:00 p.m. Eastern time on July 31, 2024, unless extended, varied or terminated by the Fund. The Offer will not be conditional upon any minimum number of Debentures being tendered.

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